Annual Report 2012/13 - Clas Ohlson

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on Norway Sweden Some key steps during the year UK Finland China Clas Ohlson continued to refi ne the company’s sales and service channels and opened 17 new stores in the 2012/2013 fi nancial year. The company’s new e-commerce platform was also launched in all markets during the year, making it easy for customers to fi nd information, service and make purchases on their computers, tablets or mobile phones. Sweden Start 1918. Number of stores: 73, including 5 new stores opened during the fi nancial year. Head offi ce and distribution centre. Number of employees: 2,179 (2,004, 2011/12). Sales: SEK 3,028 M (2,929, 2011/12). Clas Ohlson launched the company’s fi rst loyalty programme, Club Clas, in spring 2013. The club is designed to reward loyal customers and provide opportunities for increased sales due to higher visitor frequency and above-average receipts. The programme also enables more effective marketing. More than 250,000 customers had joined the club by June 2013, making Club Clas one of the largest DIY clubs in Sweden! Norway Start 1985. Number of stores: 62, including 6 new stores opened during the fi nancial year. Number of employees: 1,340 (1,241, 2011/12). Sales: SEK 2,665 M (2,561, 2011/12). Finland Start 2002. Number of stores: 27, including 6 new stores opened during the fi nancial year. Number of employees: 407 (327, 2011/12). Sales: SEK 563 M (517, 2011/12). UK Start 2008. Number of stores: 12, no new stores opened during the fi nancial year. Number of employees: 300 (301, 2011/12). Sales: SEK 263 M (254, 2011/12). Read more about our continued UK expansion on page 19. China Shanghai and Shenzhen are the locations for Clas Ohlson’s purchasing and CSR offi ces. Operations in China were established in 2008 to strengthen Clas Ohlson’s purchasing operations and increase the share of purchases without intermediaries. Coming closer to suppliers and manufacturers permits us to reduce purchasing costs and gain greater control of compliance with our Code of Conduct. Number of employees: 54 (47, 2011/12). In December 2012, Clas Ohlson was selected for the Nasdaq OMX Sustainability Index, which includes the most prestigious listed companies in terms of sustainability. During the fi nancial year, we took further steps to improve our supplier responsibility, developed our product range to identify new, smart products and solutions that can save energy and resources and optimised our transport effi ciency to reduce carbon dioxide emissions. During the year we continued to increase the proportion of direct purchases from manufacturers. This gives us greater control over design and quality and means that we can offer our customers even more value for money. We can also ensure compliance with our Code of Conduct on site, where the manufacturing is carried out, and check that working conditions meet our requirements.
International expansion The year in brief • Sales amounted to SEK 6,519 M (6,260), +4% • Operating profit amounted to SEK 431 M (561), -23% • Profit after tax amounted to SEK 332 M (400), -17% • Earnings per share amounted to SEK 5.23 (6.29), -17% • A proposed dividend of SEK 4.25 per share (4.25) • 17 new stores opened Key ratios 2012/13 2011/12 Change Net sales, SEK M 6,519 6,260 +4% Operating profit, SEK M 431 561 -23% Profit before tax, SEK M 420 551 -24% Profit after tax, SEK M 332 400 -17% Operating margin, % 6.6 9.0 -2.4 Return on equity, % 18.3 23.1 -4.8 Return on capital employed, % 23.2 27.9 -4.7 Equity/assets ratio, % 59.1 60.3 -1.2 Earnings per share, SEK 5.23 6.29 -17% Dividend per share, SEK 4.25* 4.25 0% Total number of stores 174 157 +11% Number of full-time equivalent employees 2,524 2,370 +6% * Proposed dividend Sales, SEK M Operating profit, SEK M Clas Ohlson's vision is to develop a strong European retail chain, characterised by high profitability and favourable value growth for our shareholders. We strive to become the obvious choice for people searching for solutions to practical problems in daily life. During the fiscal year, we expanded by 4 per cent in a generally weak retail market in our countries of operation. Operating profit was SEK 431 M (561) affected by lower sales in comparable stores. Clas Ohlson received a number of new distinctions during the year, including most popular store in a shopping centre (Drömgallerian 2012), Sweden’s second strongest retail brand (GFK 2012) and an award for being best in the industry in a survey on sustainability (Sustainable Brands Insight 2013). These distinctions give Clas Ohlson’s employees, in combination with our customers and shareholders, the inspiration to continue developing the Company with the ambition that more customers gain access to what Clas Ohlson can offer! 7500 600 591 561 6000 5 556 5 828 6 260 6 519 503 507 500 431 4 930 400 4500 300 3000 200 1500 100 0 0 08/09 09/10 10/11 11/12 12/13 08/09 09/10 10/11 11/12 12/13 Calendar Interim report, first quarter 4 September 2013 Annual General Meeting for the 2012/13 financial year 7 September 2013 Six-month report 11 December 2013 Interim report, third quarter 12 March 2014 Year-end report for the 2013/14 financial year 11 June 2014 The year in brief 1
Page 1 and 2: Annual Report 2012/13
Page 3: More people discover Clas Ohls Clas
Page 7 and 8: share responsibility for improving
Page 9 and 10: Strategic orientation Clas Ohlson
Page 11 and 12: High level of service The level of
Page 13 and 14: Market overview Overall, the retail
Page 15 and 16: and Kjell & Co. As shown in the tab
Page 17 and 18: Marketing Our marketing communicati
Page 19 and 20: Multi-channel strategy - “one Cla
Page 21 and 22: Three sizes Clas Ohlson has custome
Page 23 and 24: New markets - the key to internatio
Page 25 and 26: environmental properties of product
Page 27 and 28: Clas Ohlson's distribution centre i
Page 29 and 30: smaller, individual specialist reta
Page 31 and 32: Sustainable development Clas Ohlson
Page 33 and 34: Significant events during the year
Page 35 and 36: Business ethics Clas Ohlson works t
Page 37 and 38: Preventive and training measures In
Page 39 and 40: The CSR audit process At Clas Ohlso
Page 41 and 42: From Lund to London in less than tw
Page 43 and 44: Focus on spare parts - Clas Ohlson
Page 45 and 46: Organisation and responsibility Env
Page 47 and 48: Clas Ohlson’s catalogues are prin
Page 49 and 50: One of Sweden's largest Annual Gene
Page 51 and 52: Trend in share capital Additional A
Page 53 and 54: On 21 November 2012, the Swedish Go
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ses the Chairman of the AGM. At Cla
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nance of subsidiaries, as well as t
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Control environment The control env
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financial year, LTI 2010 was conclu
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Comments Sales Sales amounted to SE
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Group Balance sheet SEK M Note 30 A
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Parent Company Balance sheet SEK M
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and expenses directly attributable
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Price risk The price risk is regard
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emuneration is also conditional upo
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Note 10 Earnings per share Earnings
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Of the total expense, SEK 0.0 M (0.
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Group 2012/13 2011/12 Rents and lea
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Audit report To the Annual General
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Björn Haid Board member since 1990
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Henrik Andersson Board member since
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Göran Melin CFO. Employee since 20
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Addresses Head office Clas Ohlson A
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